Breakout stocks to buy or sell: The Indian stock market closed in the red, breaking a four-day winning streak as investors booked profits ahead of the September-quarter (Q2) earnings season.
The Sensex slipped 153 points, or 0.19 per cent, to settle at 81,773.66, while the Nifty 50 declined 62 points, or 0.25 per cent, to finish at 25,046.15. The broader market saw sharper losses, with the BSE Midcap index dropping 0.74 per cent and the Smallcap index falling 0.42 per cent.
Sumeet Bagadia’s breakout stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that Indian stock market bias is cautiously positive as the Nifty 50 index is facing hurdle at 24,200 to 24,250 range.
Speaking on the outlook of Indian stock market, Bagadia said, “ To keep the bias positive, the 50-stock index needs to sustain above 25,000 levels. For setting a bull trend on Dalal Street, the key benchmark index would require to break above 24,250 decisively. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart.”
Stocks to buy today
Sumeet Bagadia recommends five breakout stocks to buy today: Yatharth Hospital & Trauma Cre Srvcs, Remsons Industries, SeQuent Scientific, SRM Contractors, and Senores Pharmaceuticals.
1] Yatharth Hospital & Trauma Cre Srvcs: Buy at ₹832, target ₹895, stop loss ₹800;
2] Remsons Industries: Buy at ₹134, target ₹144, stop loss ₹129.5;
3] SeQuent Scientific: Buy at ₹215.5, target ₹230, stop loss ₹207;
4] SRM Contractors: Buy at ₹566, target ₹610, stop loss ₹548;
5] Senores Pharmaceuticals: Buy at ₹715, target ₹777, stop loss ₹690.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
